Colliers International is pleased to announce the sale of a ±2.8 acre tract of land at the northeast corner of Spell Road and South Persimmon Road (Lot 11) in Tomball, Texas. The buyer, PDGL Partners LP, is led by Dave Mitchell and Peter Goldsmith.This will be a speculative development project in Tomball Business and Technology Park and will consist of a ±39,000 square foot multi-tenant tilt-wall, office/warehouse. This new project is anticipated to break ground in late 2020.

The seller, Tomball Economic Development Corporation, was represented by Tom Condon, Jr., senior vice president Colliers International in The Woodlands. Jane Matthews with Stewart Title in Tomball coordinated the closing.

The North Freeway/Tomball Parkway submarket, strategically located between Highway 249 and I-45 North, encompasses 30 million square feet of industrial and flex space. The submarket, which is 88.5% occupied, is the second largest of the four submarkets located in Houston’s North industrial corridor.

About Colliers International

Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.